Trafigura Staff Tried to Hide Nickel ‘Red Flags,’ Gupta Says
- Details in Trafigura-Gupta saga made public in court hearing
- Trafigura says messages don’t clearly indicate complicity
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Staff at Trafigura Group worked with alleged fraudster Prateek Gupta to ensure that their dealings would not raise the suspicion of key lender Citigroup Inc., according to messages made public in the court battle between the two sides.
The revelation is the latest twist in a case that has shocked the commodity trading world, after Trafigura in February accused Gupta of perpetrating a massive fraud against it. The company said that it had paid more than $500 million for nickel, only to discover that the cargoes actually contained worthless rubble.